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A company issued $470,000, 11-year, 9 percent bonds at 106.75. What is the issue price of these bonds? $512,300 $470,000 $501,725 $438,275

A company issued $470,000, 11-year, 9 percent bonds at 106.75.

What is the issue price of these bonds?

$512,300

$470,000

$501,725

$438,275

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